Wolfden Awarded $275k Grant for 2023 Critical Metal Exploration Program - Seite 2

Wolfden owns 100% of the Nickel Lake deposit which hosts a NI43-101 compliant Inferred mineral resources of 8.5 Mt @ 0.86% NiEq* (see news release Jan 10, 2022). This deposit is hosted by a peridotite intrusion. Additional nickel-sulphide-bearing ultramafic rocks were intersected in five separate areas to the south of the deposit (see Figure 1. below).

An airborne VTEM survey was flow over the property in 2016. This survey identified 43 conductive zones (approx. 26 kms worth) with the majority associated with magnetic highs, including the known Nickel Island deposit. In January 2023, Wolfden plans to complete two geophysical grids, covering approximately half of the conductive targets in order to prioritize the next phase of exploration drilling. The highest priority targets are expected to be coincident conductive-gravity-magnetic highs.

The Company has recently received a work permit from the province to commence the winter exploration program and plans to progress through additional community consultation prior to drill testing the priority targets or potential deposit expansion. In addition to the planned program, Wolfden is working toward signing an MOU with the neighboring First Nation Communities that envisions setting up a jointly owned mining services company that would take a lead in both supporting exploration and future mineral resource development in the region.

Figure 1. Nickel Island plan map with airborne geophysical targets and historical drill hole results. Note: the round dots are geophyscial conductors and not historical drill hole collars.

Foto: Accesswire

About Wolfden

Wolfden is an exploration and development company focused on high-margin metallic mineral deposits including base, precious and strategic metals. Its wholly owned Pickett Mountain Project is one of the highest-grade polymetallic projects in North America (Zn, Pb, Cu, Ag, Au) and its two nickel sulphide deposits in Manitoba represent significant development projects with the potential to support the growing battery and EV markets.

For further information please contact Ron Little, President & CEO, at [phone] or Don Dudek VP Exploration at [phone].

The information in this news release has been reviewed and approved by Don Dudek, P. Geo., VP Exploration and Ron Little P.Eng., President and CEO, both of whom are Qualified Persons' under National Instrument 43-101.